US President Donald Trump threatened on Friday to cancel an upcoming summit with Xi Jinping and hit China with "massive" tariffs after Beijing imposed export curbs on rare earth minerals.

In an angry social media post that triggered a sell-off on the stock markets, Trump said China's restrictions on materials used in almost every area of modern life were "very hostile."

Trump said China had sent letters to countries around the world detailing export controls on "each and every element of production having to do with Rare Earths."

"There is no way that China should be allowed to hold the World 'captive,'" he said on his Truth Social network.

The US president called into question his plans to meet Xi at the Asia-Pacific Economic Cooperation (APEC) summit later this month, which was to be

See Full Page